Swiss exchange has listed the world’s first ETP based on Bitcoin and gold
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Even the Swiss recognize that digital gold is the way to save money. The next step is understanding that it’s actually better.
The world’s first exchange-traded product (ETP) that is based on Bitcoin and gold simultaneously has been listed on the SIX stock exchange located in Switzerland. This new product, known as BOLD, will use a custom index.
The composition of the new ETP looks like this: 18.5% in Bitcoin and 81.5% in gold. But in the future, the weighting may change. According to plans, it will be rebalanced monthly.
BOLD was created in a collaboration between 21Shares and ByteTree. Both companies expressed confidence in their new project. As the CEO of 21Shares Any Rashwan commented:
“This hybrid product combines the traditional value of gold with the promising return rates of bitcoin, which is considered by many as the new gold.”
The CEO of ByteTree Charlie Edith added:
“Gold has historically delivered portfolio protection in inflationary environments while bitcoin is the digital equivalent of gold with growing adoption by investors as a distinct asset class and a core store of wealth.”
Would you invest in such ETP? Or you’d better invest only in crypto? Personally, I would diversify my portfolio and invest in this new ETP.
Source: CoinDesk